Today is the much awaited day for DMK MP Kanimozhi and Kalaignar TV promoter and director Sharad Kumar as the Delhi Court will pronounce its verdict on their bail petitions.

The allegation charged by CBI on them in their charge sheet was that M/s. Cineyug Pvt. Ltd gave a bribe of Rs.200 crore. Both Kanimozhi and Kumar contended that the amount was a loan and not a bribe. They claimed that it was a transparent transaction and the amount received through the bank was duly accounted for and repaid. Moreover they also said that the CBI had no material to show that the amount so received was not a loan.

Argument put forth by the CBI was that the two attempted to create a “smoke screen” by projecting the bribe trail of Rs.200 crore was a loan transaction and that it was a “dubious” transaction as no contemporaneous documents were executed by any of these companies.

Report by Sumit